MudraCircle is a combination of the words Mudra and Circle- it'll aim to connect small businesses looking for funding, and lenders looking for tapping into a large segment of underserved & unserved borrowers.
• This is a team of 4 Co-founders which has banking/ finance, Technology and Data-science expertise between them. MudraCircle is all set for a big bang commercial launch in January 2018.
• Vaibhav told us that India has over 50mn+ registered enterprises of which about 92% do not have access to adequate credit. The total MSME funding gap across the sector is about INR3Tn. Unit economics (in branch and spoke model) does not favor traditional institution penetration in this segment. Lack of distributor/ trade credit facilities further widens the demand for our services. One of the other main reasons is absence of reliable credit methodology to assess these unfunded or underfunded customers. We feel getting finance should be quick and easy, so that the enterpreneur can get back to doing what he/ she do best- running their businesses. Whole system cuts out the complexity and hassle of borrowing.
• If enterprenur has gone wrong somewhere with his/ her credit score we help them in identifying the problem and suggest ways to improve the same. With our understanding we also help borrowers to improve credit score by way of financial/ credit literacy education. This credit consultancy will be free for its borrowers.
• MudraCircle aims to connect with existing DSAs in the country for getting borrowers on board as a separate acquisition channel apart from Digital marketing leads. Partners would have their own dashboards from which they can upload borrower files. For existing DSAs, complete digital process would result in better productivity & earnings. At Mudra Circle, we're open to partner with a broad range of businesses, corporates, institutions, from brokers to advisors and affiliates to retailers and banks to NBFCs. People whom we work with should share our goal of delivering fast & best-in-class customer experience in financial services by making money simple and fair.